Wednesday, August 26, 2009
As Credit Dries Up, Homeowners Tackle Smaller Home Improvement Projects
The New York Times wrote a piece this week about how homeowners, unable to run up credit or uncomfortable with beginning large scale renovations, are instead tackling the smaller projects that help them maintain their homes.
Here at cityhammer, we've heard just about the same type of story anecdotally, from both users of the site and from remodeling companies in the New York area.
From the New York Times:It's nice that Wall Street seems to be turning around, but Main Street is still very much concerned about when the jobs may come back and this caution is manifesting itself in the types of home improvement projects that homeowners are choosing to initiate.
In prerecession days, home improvement projects were usually grand, expensive overhauls of kitchens and bathrooms.
In this economy, home improvement projects consist of painting the walls and replacing the jiggly toilet handle.
Another facet of this trend is the urge to do-it-yourself, as Home Depot and Lowes stock up their hardware and paint departments for those who want to save money by handling handyman tasks and painting projects on their own.
Lowe’s has added more staff to popular do-it-yourself departments, like paint and hardware. Home Depot also beefed up its paint department, adding new products like an all-in-one paint and primer, and a Rust-Oleum paint variety that promises to cover more surface area for the money.
Home improvement companies, however, are also offering specials, so before you bite off a project that may be more than you chew, be sure to visit cityhammer.com and consult a few of New York's top remodeling pro's.
Home Improvement Chains Adjust (NYT)